Northern Star Resources Limited (NST) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Northern Star March 2025 quarterly results call. All participants are in a listen-only mode. There'll be a presentation followed by a question and answer session. If you would like to ask a question, nearly press the star key followed by the number one on your telephone keypad. I'd now like to hand the conference over to Mr Stuart Tonkin, Managing Director and CEO. Please go ahead. Good morning and thank you for joining us today. With me on the call is Chief Financial Officer Ryan Gurner and Chief Operating Officer Simon Jessop. To start, we are very pleased that De Grey shareholders voted overwhelmingly in favour of the scheme of arrangement and we look forward to welcoming their team and their shareholders into Northern Star. I'd also like to take this opportunity to say thank you to all our employees and business partners who consistently deliver a strong performance, enabling both organic growth and inorganic opportunities like the de Grey acquisition. With gold price exceeding Australian dollars $5,000 an ounce, it is an outstanding time to be producing and discovering gold in the stable, low-risk jurisdictions of Western Australia and Alaska. Against this buoyant market backdrop, we generated strong net mine cash flow of $295 million in the March quarter, and pleasingly, there was positive contributions from all production centres, despite operational challenges at our biggest asset, KCGM. Our balance sheet remains in a net cash position, and our hedge book continues to wind down as we deliver to the set schedule. In the March quarter, gold sold totaled 385,000 ounces at an all-in-sustaining cost of Australian dollars $2,246 per ounce. Mining of the high-grade open pit ore at KCGM was delayed because of low productiv...